And this is the key point.
There is no transaction with Owl at any time with respect to the supply of the VP50.
We (end users) have a transaction with DVDO in the US. If DVDO ship the VP50 to Owl, and Owl pay the import duty and VAT, that's between them. Nothing to do with us.
The process is however very interesting from the VAT-man's perspective. Owl will be able to reclaim the VAT paid on importing the goods, but as there is no transaction between Owl and us, there's no VAT that can be collected.
It appears that, effectively, we get the goods VAT-free. It seems like a loophole, but I have no doubt whatsoever that it isn't in reality, and that ultimately, Owl are liable for the output VAT (i.e. the VAT on the "invisible" transaction between the them and us).